October 3, 2022

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Stocks drop sharply, Caixin PMI data in China

Stocks drop sharply, Caixin PMI data in China

An employee works at the Tokyo Stock Exchange in Tokyo, Japan, on January 13, 2022.

Toru Hanai | Bloomberg | Getty Images

Stocks in the Asia-Pacific region are trading mostly lower on Thursday as investors digest the results of a special survey on factory activity in China.

in Australia , S & P / ASX 200 It briefly fell more than 2% and was last down 1.67%, while Australian dollar It weakened to $0.6803.

Japan Nikkei 225 Topix is ​​down 1.75% and Topix is ​​down 1.39%. Hong Kong Hang Seng Index It was down 1.52% and the Hang Seng Tech Index was down 1.15%.

The Cosby In South Korea, it fell 1.83% and the KOSDAQ index lost 1.49%.

in mainland China, Shanghai boat It was up 0.24% after opening lower, while Shenzhen Component It also rose 0.171%.

MSCI’s broadest index of Asia Pacific shares outside Japan fell 1.63%.

China’s Caixin/Market Manufacturing PMI for August released on Thursday showed that the sector is sliding into contraction this month.

This follows official manufacturing PMI data released on Wednesday Show that factory activity has shrunk Amid a recent spike in Covid infections, the nation is facing its worst heatwave in decades.

Overnight in the US, major stock indexes rose earlier in the session, but closed lower for the fourth consecutive day.

The Dow Jones Industrial Average fell 280.44 points, or nearly 0.9%, to 3,1510.43. The S&P 500 fell about 0.8% to end the day at 3,955, and the Nasdaq Composite fell about 0.6% to 11816.20.